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Frequently Asked Questions
 What are the continuous quoting obligations of Market Makers, Competitive Market Makers, SQTs/RSQTs?
Identification Number 1889

This answer applies to Competitive Market Makers on ISE, GEMX, and MRX; SQT/RSQTs on PHLX; and Market Makers on NOM and NTX Options.

Market Makers, associated with the same member, are collectively required to provide two-sided quotations in 60% of the cumulative number of seconds, or such higher percentage as the exchange may announce in advance, for which that member’s assigned options class is open for trading.  Market Makers are not required to make two-sided markets in any Quarterly Options Series, any Adjusted Options Series, and any options series with an expiration of nine months or greater for options on equities and exchange-traded funds or with an expiration of twelve months or greater for index options. Market Makers may choose to quote such series in addition to regular series in the options class, but such quotations will not be considered when determining whether a Market Maker has met the obligation contained in this paragraph.

Please see NOM/NTX/ISE/MRX/GEMX/PHLX Options 2 Sections 4 and 5 for more details.

Publication Date*: 6/30/2026 Mailto Link Identification Number: 1889
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